Jeonju City Recruiting Applicants for 'Hope Savings Account II' Until the 22nd

For Households Receiving Housing or Education Benefits and the Near-Poor Category

Jeonju City, North Jeolla Province, is recruiting new applicants for the 'Hope Savings Account II' until the 22nd.

According to the city on the 1st, the 'Hope Savings Account II' is open to households receiving housing or education benefits with monthly earned or business income, as well as to those in the near-poor category.

Even if an applicant is not officially classified as near-poor at the time of application, they may enroll if, after an income and asset assessment, their recognized income is at or below 50% of the median income.

Jeonju City Hall exterior. Provided by Jeonju City

Eligible individuals can apply at their local community center. If an account holder saves at least 100,000 won per month for three years, additional earned income incentives (100,000 won per month in the first year, 200,000 won per month in the second year, and 300,000 won per month in the third year) will be deposited, allowing them to receive a total of 10.8 million won at maturity.

To receive the maturity payment, the account holder must continue employment for three years and complete 10 hours of self-reliance training. They must also submit a financial usage plan. The city plans to recruit additional applicants for the 'Hope Savings Account II' two more times (in July and October) by October, following this first round.

A city official stated, "For low-income families facing difficulties in accumulating a lump sum due to social and economic factors, this account program is expected to provide a valuable opportunity for economic independence and realizing their dreams," adding, "We will actively promote the program and strive to provide tailored support so that more citizens can benefit."

Meanwhile, for the 'Hope Savings Account I' targeting households receiving basic living or medical benefits, the city plans to hold three more rounds of recruitment (in June, September, and November) following the first round last month. In addition, for the 'Youth Tomorrow Savings Account' targeting working youth, applications can be submitted online via Bokjiro or at local community centers from the 2nd to the 16th of next month.